US companies under China sanctions, Many acquisitions in the pipeline…

10/26/2020 | 09:33am

The week starts with a few earnings reports, before an avalanche of results starting tomorrow. Companies hit hard by the coronavirus continue to adapt. SAP will not meet its objectives. Financial transactions continue with rumors about Cellnex or Siemens.

Earnings season. SAP SE, Nidec, NXP Semiconductors, Canon, Hasbro, Groupe SEB, Mail.RU, Coface, BigBen and Lumibird are among companies reporting their results today...

A few results:

  • It's tech giants’ week, with Microsoft results on Tuesday and Alphabet, Apple, Facebook and com results on Thursday.
  • Hyundai: The Korean automaker released deteriorated quarterly results, with an unexpected net loss. Part of the disappointment, however, was due to one-time extra costs related to vehicle recalls.
  • SAP SE: the German enterprise software specialist has lowered its targets due to the second wave of coronavirus.

Green light. The European Commission is going to authorize the planned merger between Fiat Chrysler Automobiles and PSA to create the world's fourth-largest automaker, sources close to the dossier reported, adding that a decision could be taken before the end of the year.

Facebook in the hot seat. Facebook could face antitrust charges in the United States as early as November, the Washington Post reported Friday, citing four sources close to the case.

China sanctions. Lockheed Martin, Boeing Defence and Raytheon Technologies will be sanctioned by China for their involvement in the sale of arms to Taiwan, a spokesman for the Chinese Foreign Ministry said Monday. Lockheed Martin and Raytheon are selling nearly 1% ahead of the stock market.

Dunkin eyes Inspire. Dunkin’ Brands, the owner of fast-food chains Dunkin' Donuts and Baskin Robbins, announced Sunday that it held preliminary discussions for its acquisition by Inspire Brands.

In other news:

  • Bayer is putting the US unlisted biotech company Asklepios Bio for sales at up to $4 billion.
  • Cellnex is reportedly discussing a buyout of CH Hutch's telecom towers for $10.7 billion, according to Bloomberg.
  • AstraZeneca has resumed clinical trials in the United States on its coronavirus vaccine.
  • Carlyle is on the verge of buying Flender from Siemens for €2 billion, according to Bloomberg.
  • Australia's Coca-Cola Amatil announced that Coca-Cola European Partners had offered to buy it for AUD$9.23 billion.
  • Volkswagen will place Bentley under the control of Audi, according to Automobilwoche.
  • Johnson & Johnson will also be able to restart the test that was interrupted last week.
  • In Canada, Cenovus Energy bought Husky Energy for $2.9 billion.
Romain Fournier
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